I agree also. I have a reliable older car which I will keep until it stops, or until I have cash to buy my next car outright. Once you sit down and work out how much interest you will be paying for the term of the car, it can be a lot, and over the years and each time you trade up or get a new car,it could be a big chunk off your mortgage. In my younger days I would get a newer car every few years to 'keep up' but now I think how stupid I was! Oh well, we live and learn! Saying that, it is everyone's personal choice and what you can and can't afford.